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cars + money?
ok can someone please help me, i am at a total lose of knowledge here. so when you get car insurance you pay like every couple of months right? so when youi buy a car do you have like monthly payments for that too? and when you see like one of those cars on the side of the road that say 'for sale' do you only pay the flat fee to the seller, or do you pay monthly somehow?
i need all the info anyone and everyone can give, please!
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Maybe give some free advice about: Cars?
I actually work for a motor insurer! When you buy a car, it depends on where you buy it from and whether you buy it all in one go. If you buy it from a dealership, you can arrange to pay it off in installments which you would pay once a month, probably with a bit of interest on top. If you bought on the private market (i.e-roadside or from a paper), you would need to pay the whole lot in one go. However, make sure you get someone who knows a lot about cars to check it over BEFORE you hand the money over and that the correct paperwork is signed and sent off. I don' know whether you are in the UK or the US but in the UK, it is the new owners responsibility to ensure the paperwork is passed to the DVLA.
As far as insuring a vehicle goes, you need to have all of the details for the vehicle (engine size, make, model, year it was first registered etc)because they will need all this to calculate your annual premium. Make sure you get a lot of different quotes from a lot of companies, because some of them charge ridiculously high premiums for younger drivers. Once you reach 25 in the UK, the premium goes down but before that it tends to be very high. Also check to see if they do quotes online because some companies offer a discount when you purchase your insurance online.
When it comes to paying your premium, you can choose whether to pay it annually or in monthly installements. If you pay monthly, there will be an interest added to the premium so you will end up paying extra over time but it lessens the burden of raising the money to pay the premium in time.
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Your payment of car insurance is up to the insurance company. The quote you a premium and you can either pay it all at once or pay in installments (usually monthly - but sometimes not every month - like a 9 month policy). Some insurance companies will tack on a bit more to your premium when you spread out the payment.
Car payments are determined by the bank that gives you the car loan; or in some cases by the dealer. Private sellers almost never finance (because they don't have the means to collect if you do not pay for the entire thing) - but ultimately it's up to them.
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I don't know which country you're in, but in England, as long as you are legally an adult, you can pay for insurance in instalments, this can vary from company to company. There is usually an APR (interest) for this though, so you could end up paying more for it. If you buy a car from a showroom they will usually offer an instalment plan, again check out the APR. If you buy privately, you usually have to pay 'up front'. Cars that are being sold by the side of the road are quite often there illegally, as the sellers don't have permits, and they can be a very bad buy. These sellers work on the 'sell them quick and disappear method'. Reputable car showrooms, whilst being slightly more expensive, are generally more reliable and normally offer a warranty with the car. Also depending on your age and pocket, it's a good idea that you get some insurance quotes on a car before buying, otherwise you could end up with either a car no one will insure you to drive, or with a bill so large you will struggle to pay it off. Good luck.
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You can pay car insurance monthly or the cheaper way is to pay it every 6 months.
Most cars along the side of the road want the cash. They won't usually take payments. You can go borrow the money from the bank and then make payments to the bank every month though. :)
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For insurance, you pay a certain amount every month. You pay a different amount for your car every month. And if you buy a used car like the ones that say "for sale" on them on the side of the road, it depends on who is selling it to you. They might want you to pay all the money up front, or a down payment with month payments. It depends on the people.
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